BIP Wealth LLC Sells 2,722 Shares of AT&T Inc. (NYSE:T)

BIP Wealth LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,262 shares of the technology company’s stock after selling 2,722 shares during the period. BIP Wealth LLC’s holdings in AT&T were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd raised its holdings in shares of AT&T by 30.3% during the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock valued at $48,000 after acquiring an additional 622 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of AT&T by 72.2% in the 1st quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company’s stock worth $5,696,000 after acquiring an additional 135,603 shares in the last quarter. Pitcairn Co. lifted its position in AT&T by 21.0% during the 1st quarter. Pitcairn Co. now owns 52,906 shares of the technology company’s stock valued at $931,000 after acquiring an additional 9,178 shares during the period. Crewe Advisors LLC bought a new stake in AT&T during the first quarter worth about $163,000. Finally, Vident Advisory LLC grew its holdings in AT&T by 313.3% in the first quarter. Vident Advisory LLC now owns 693,132 shares of the technology company’s stock worth $12,199,000 after purchasing an additional 525,440 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on T shares. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Oppenheimer increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 1.1 %

T opened at $22.73 on Wednesday. The stock has a market cap of $163.09 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s fifty day moving average is $21.94 and its 200 day moving average is $19.84. AT&T Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $23.20.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.